Two dormant Ethereum wallets, created on July 30, 2015, were activated recently, transferring a total of 1,140 Ether, valued at approximately $2.9 million. These wallets were funded at the launch of the Ethereum blockchain during its 'Frontier' phase. Since their inception, Ether has seen a staggering appreciation of nearly 90,000%. This resurgence of old wallets coincides with a growing trend of dormant whale wallets in the crypto space being reawakened, including multiple Bitcoin wallets that had been inactive for over 14 years. The overall environment has shifted with Ethereum's transition from a proof-of-work to a proof-of-stake system in September 2022, which has led to enhancements in network efficiency. Recent upgrades to Ethereum have also introduced features aimed at improving scalability and staking limits. Experts observe that these developments are increasing Ethereum's potential and resilience against certain vulnerabilities.

Source 🔗